SoFi CEO enters prepaid forward contract on 1.5 million shares
HOUSTON - KBR (NYSE:KBR), a $6.4 billion engineering and technology solutions company with solid financial health according to InvestingPro metrics, has secured a contract to provide front-end engineering design (FEED) for onshore liquefied natural gas facilities for the Abadi LNG project in Indonesia, the company announced Thursday.
The project, designated of national strategic importance by the Indonesian government, aims to achieve peak production capacity of 9.5 million tons per annum of LNG and 150 million standard cubic feet per day of pipeline gas.
Under the contract terms, KBR will collaborate with Samsung E&A and PT Adhi Karya to deliver comprehensive FEED services for the onshore LNG facilities. The work will support INPEX Masela Ltd., the project developer, in reaching its final investment decision.
"We look forward to strengthening our collaboration with INPEX and helping Indonesia sustainably achieve its national energy security objectives," said Jay Ibrahim, KBR President of Sustainable Technology Solutions, in the press release.
INPEX Chief Executive Officer Takayuki Ueda acknowledged the complexity of the project but expressed confidence in its successful execution.
KBR currently employs approximately 37,000 people performing various roles across 29 countries. The company specializes in delivering science, technology and engineering solutions to governments and companies worldwide.
The announcement did not disclose the financial terms or timeline for the FEED contract.
In other recent news, KBR Inc. reported its second-quarter earnings for 2025, revealing a mixed financial performance. The company’s earnings per share (EPS) came in at $0.91, slightly exceeding analysts’ expectations of $0.90. However, KBR’s revenue fell short, reaching $1.95 billion compared to the anticipated $2.09 billion. This revenue miss highlights some challenges the company is facing in meeting market projections. In other developments, KBR announced the appointment of Huibert H. Vigeveno to its board of directors, effective August 5, 2025. Vigeveno brings extensive experience from his previous role at Shell, where he served on the executive committee and directed Downstream, Renewables, and Energy Solutions. These recent developments are crucial for investors to consider when evaluating KBR’s future prospects.
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